Local Market Activity for September 2016
Good Morning!
The housing market in the Eugene and Springfield area remains strong. September 2016 closed out as the strongest home sales September on record from MLS. With only 2 months of home inventory available, the inventory of homes for sale also remains at an extremely low level. The sellers market lives on in Lane County. Here are the complete statistics for September 2016.
September brought a little seasonal cooling to Lane County, but activity is ahead of last September. Closed sales (488) ended 10.2% ahead of September 2015, although fell 9.0% short of the 536 closings posted last month in August 2016. It was the strongest September for closings on the RMLS record for Lane County, edging past the 483 closings posted in September 2005.
Pending sales (470) ended 2.0% higher than in September 2015 (461), but were 16.4% cooler than last month’s 562 accepted offers. Similarly, new listings (488) edged 0.4% over the 486 new listings o ered in September 2015 but fell 24.9% short of matching the 650 new listings offered last month in August 2016.
Year to Date Summary
Comparing the first nine months of 2016 to the same period of 2015, closed sales (3,918) have increased 7.1% and pending sales (4,330) have increased 5.8%. New listings (5,269) have decreased 2.4%.
Average and Median Sale Prices
Comparing 2016 to 2015 through September of each year, the average sale price rose 7.4% from $243,400 to $261,300. In the same comparison, the median sale price rose 6.8% from $220,000 to $235,000.
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The 2016 election season has been one of the most divisive presidential races in this country's history and unfortunately, that unrest has been something of a wet blanket on the housing market nationally. While many areas in the nation have enjoyed a boom market, the sense of unease and nervousness has convinced many Americans to wait before buying or selling a home. This is not a new scenario for our country, even in years with less chaos and uncertainty, Realtor associations nationwide have noted that consumers tend to be more cautious during an election year. The question is:
3686 Yogi Way
2484 Crowther Drive
2685 Valley Forge Dr
1014 Yew St
One thing that has always been true, Eugene and Springfield Oregon have a Real Estate market that does not always follow the flow of the rest of the country. Sometimes this can be good and sometimes it might not be so good. Our local market never seems to have the abrupt ups and downs that even close market areas like Portland experience. This can be discouraging when we see other markets values jumping well above our local values, but when the market turns and those markets that had the steep gains begin the cycle down, Eugene typically does not decline as rapidly. This is good!
2231 Sandy Drive
6076 Fernhill Loop
